The Australian Federal Government has formally declared the West Peron geological formation in the Bonaparte Basin as an identified carbon storage formation, marking a major regulatory step for the INPEX Bonaparte CCS Project.

The decision represents Australia’s first formal regulatory recognition for an offshore saline aquifer carbon storage site. Located approximately 160 miles off the coast of Darwin in the Northern Territory, the project is operated by INPEX Browse E&P (53% interest) alongside joint venture partners TotalEnergies CCS Australia (26%) and Woodside Energy (21%).

The declaration verifies that the subsea saline formation meets technical criteria for safe carbon sequestration. INPEX proposes to permanently inject and store up to 443 million tons of CO2 in the deep rock formation over an operational lifespan of up to 35 years.

The primary commercial driver for the offshore hub is INPEX’s nearby Ichthys LNG project, which will serve as the anchor customer. Geologic sequestration via the Bonaparte reservoir is projected to reduce Ichthys LNG’s operational CO2 emissions by approximately 40%, directly supporting corporate decarbonization commitments under the firm’s Vision 2035 framework.

The milestone follows several years of site characterization and regulatory positioning. The joint venture initiated pre-Front-End Engineering and Design (pre-FEED) studies in April 2025, and the project was awarded federal Major Project Status in July 2025.

While the West Peron declaration confirms geological suitability, it does not constitute final authorization to begin CO2 injection. 

The project must complete ongoing environmental impact assessments, with Northern Territory regulators having approved the project’s Environmental Impact Statement terms of reference in July 2026, and secure additional commercial agreements ahead of a Final Investment Decision (FID).

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